The invention pertains to the field of cutting tools such as turning, boring and milling cutters having replaceable indexable cutting inserts mounted on a tool body. Frequently a plurality of indexable inserts are located about the end of a cylindrical body although such tools can be made with a single insert. Such tools are typified by U.S. Pat. No. 3,309,758 which discloses a serrated bottom seat anvil adapted to draw an insert axially into place or alternatively a bottom seat anvil fixed in place. The inserts must be indexable and replaceable in the simplest and quickest manner possible commensurate with the reproduceable accuracy required.